Problem from: Chapter 15, #5 Greece has been through significant national budget

Question

Problem from: Chapter 15, #5 Greece has been through significant national budget turmot. In 2o10, It was discovered that the Bovernment had been concealing the true size of the national debt for several years. The data in the following table reveal just how much the nation's officially reported national debt grew between 2000 and 201 10. The data are in biltions ot U.S dollars Use the data to answer the questions that follow 2000 2010 Debt GDP Debt S138 $127 $455 $308 table in problem 4 to compute the debt-to-GDP ratio for Greece in both 2000 and 2010

Explanation / Answer

Debt to GDP ratio for Greece in 2000
= 138/127 = 1.086 = 108.6%

Debt to GDP ratio for Greece in 2010
= 455/308 = 1.477 = 147.7%

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